Economic Valuation of Medicinal Plants in Peninsular Malaysia
Medicinal plants are known as important non-timber forest products (NTFPs), besides bamboo and rattan, which have had great demand by rural people and the industries lately. The increasing awareness of herbal remedies and the demand of herbal products have led to crucial requirement of the local...
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| Format: | Thesis |
| Language: | English |
| Published: |
2004
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/6088/1/FH_2004_8.pdf |
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| Summary: | Medicinal plants are known as important non-timber forest products (NTFPs), besides
bamboo and rattan, which have had great demand by rural people and the industries
lately. The increasing awareness of herbal remedies and the demand of herbal products
have led to crucial requirement of the local resources by the traditional medicine
industries. For sustainable management of medicinal plants in the forest, there is a need
to place proper values (potential and extracted values) that reveal the importance of
these r esources. T hese v alues c ould i ncrease the e nvironmental b enefits, i mportant t o
decision-makers, that affect the environment if optimal choices are to be made. By using
market price approach, the economic values (residual value) of medicinal plants were
estimated at three study sites, namely Gunung Raya, Bukit Perak and Gunung Jerai
Forest Reserves at Kedah, Peninsular Malaysia. From the industrial and collectors
survey, the status of the total requirement and total collection of the resources was
determined. Input-use efficiency in the harvesting activities of medicinal plants was also
examined. The study revealed that the average total residual values for medicinal plants
per hectare in Gunung Raya Forest Reserve were RM1,654.87, RM3,746.07 at Bukit
Perak Forest Reserve and RM964.53 at Gunung Jerai Forest Reserve. The total
requirement of local medicinal plants by the industries (476,339 kg) per year were found
exceeding the total collection of medicinal plants (103,620 kg) per year, showing the
high dependency of traditional medicine industries on the local resources. From the
production function analysis, the workers and harvesting tools were insufficiently used
during the harvesting session. Without proper monitoring and management, the
unbalanced situation of medicinal plants' demand and supply could become more
critical in the years to come. Some relevant measures were recommended from this
study. |
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